Acronym for Portugal, Italy, Ireland, Greece, and Spain.
As of 2010, these five countries are the most financially troubled of the Euro zone and are facing consequences varying from drastic austerity measures to possible forced disassociation from the Euro currency.
The crisis originated in Greece when its sovereign debt ratings were cut in December of 2009. It was later revealed in February of 2010 the Greek government hid massive amounts of debt using complex financial derivatives with the aid of US investment bank Goldman Sachs. In May of 2010, Greece was forced to implement a series of austerity measures in an effort to reduce the government's deficit in order to accept renegotiated loan agreements.
Spain later implemented austerity measures and also saw its sovereign debt ratings cut by rating firm Standard & Poors. Portugal, Italy, and Ireland were also added and now make up what is considered the five most at-risk countries of the Eurozone.
As of 2010, these five countries are the most financially troubled of the Euro zone and are facing consequences varying from drastic austerity measures to possible forced disassociation from the Euro currency.
The crisis originated in Greece when its sovereign debt ratings were cut in December of 2009. It was later revealed in February of 2010 the Greek government hid massive amounts of debt using complex financial derivatives with the aid of US investment bank Goldman Sachs. In May of 2010, Greece was forced to implement a series of austerity measures in an effort to reduce the government's deficit in order to accept renegotiated loan agreements.
Spain later implemented austerity measures and also saw its sovereign debt ratings cut by rating firm Standard & Poors. Portugal, Italy, and Ireland were also added and now make up what is considered the five most at-risk countries of the Eurozone.
Many observers are quick to point out the fallout of PIIGS is a precursor of what's coming to America.
by Cristo39 September 14, 2010
Get the PIIGS mug.1. World War I pilot lingo for an enemy pilot in your blind spot.
2. A hidden enemy
3. An awesome two part song by Pink Floyd
2. A hidden enemy
3. An awesome two part song by Pink Floyd
1. Charlie Alpha III to Red River I, watch out, you got pigs on your wing!
2. Ever since I called that chick fat, I got pigs all over my wing.
3. If you didn't care what happened to me,
And I didn't care for you
We would zig zag our way through the boredom and pain
Occasionally glancing up through the rain
Wondering which of the buggers to blame
And watching for pigs on the wing.
(Pig On The Wing part 1)
2. Ever since I called that chick fat, I got pigs all over my wing.
3. If you didn't care what happened to me,
And I didn't care for you
We would zig zag our way through the boredom and pain
Occasionally glancing up through the rain
Wondering which of the buggers to blame
And watching for pigs on the wing.
(Pig On The Wing part 1)
by 571 January 12, 2006
Get the pigs on the wing mug.Related Words
PIIGS
• pigs in a blanket
• pigskin
• pigsticker
• pigs don't fly
• Pigstep
• pigster
• pigs in blankets
• pigs eye
• pigs nose
A metaphorical stick one person in the group holds on a night out to denote who was the most loose and outta control.
by AVL March 28, 2015
Get the pigstick mug.The place where people with (and without) gutter heads hangout and have fun talking about any and all things.
by WordsthatareRandom May 19, 2019
Get the PigStand mug.A term of excitement or encouragement.
Popularised by the Scott Mills Show. Originally heard on the Radio 4 programme "The Archers" when an excerpt was used for the feature "Innuendo Bingo" on the aforementioned "Scott Mills Show".
Popularised by the Scott Mills Show. Originally heard on the Radio 4 programme "The Archers" when an excerpt was used for the feature "Innuendo Bingo" on the aforementioned "Scott Mills Show".
Lad 1. We're about to win the game.
Lad 2. GO ON PIGS!
While a volunteer shouts encouragement at people trying to finish a marathon "Go on pigs!".
Lad 2. GO ON PIGS!
While a volunteer shouts encouragement at people trying to finish a marathon "Go on pigs!".
by Timmy Trendy February 8, 2013
Get the Go on pigs mug."yo yellow, Throw Me That Pigskin Nephew"
"Blue 22' Blue 22, hut hut hike. toss me that pigskin nephew, toss me that pigskin!"
"Blue 22' Blue 22, hut hut hike. toss me that pigskin nephew, toss me that pigskin!"
by basevexy July 12, 2020
Get the Throw Me That Pigskin Nephew mug.An expression that seeks to describe the overstimulation implicit in what may feel like nearly intolerable anticipatory excitement.
by Dr Bunnygirl May 27, 2020
Get the guinea pigs in my pants mug.